My 2006 performance is evaluated at the end of the year and got a small cash bonus on Feb 2007. Taxes were taken out when deposited.
When it comes to filing 2006 income taxes, do I include this or do I leave this out till 2007?
Please help.
2007-02-16 06:27:35 · 7 answers · asked by GQPrivacy 3 in Business & Finance ➔ Taxes ➔ Other - Taxes
If you received the money in 2007, it's 2007 income and will be reported on the 2007 return. It doesn't matter that it may have been earned last year.
2007-02-16 08:17:00 · answer #1 · answered by Dizney 5 · 0⤊ 0⤋
It should be shown on your 2007 W-2 or 1099, not 2006, and you'll pay taxes on it for 2007.
2007-02-16 09:43:03 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Income is taxable to you when you receive it, not when it is earned. So it will be included on your 2007 W-2 and you will report it on your 2007 tax return.
2007-02-16 07:05:10 · answer #3 · answered by jseah114 6 · 1⤊ 0⤋
Since it was paid in 2007, it goes on your 2007 return. It will be included on your 2007 W2.
2007-02-16 08:48:40 · answer #4 · answered by Bostonian In MO 7 · 0⤊ 0⤋
This counts as 2007 income.
2007-02-16 06:29:59 · answer #5 · answered by Anonymous · 3⤊ 0⤋
income received in calendar year 2007 would be include in 2007 w2 which will be mailed to you no later than jan 31,2008
2007-02-16 08:22:47 · answer #6 · answered by amazed 3 · 0⤊ 0⤋
specific you get to deduct them whilst extremely paid whether on the state point that may not unavoidably real. Connecticut in easy terms enables you to deduct tax expenditures paid in the tax 3 hundred and sixty 5 days that have been due in the tax 3 hundred and sixty 5 days and additionally paid in the tax 3 hundred and sixty 5 days - no deduction for previous due money. So verify with your state standards until eventually now you are trying this for the duration of your state return.
2016-09-29 05:06:19 · answer #7 · answered by ? 4 · 0⤊ 0⤋